Hanhyewon and Westinghouse Dispute Resolved... Positive Signal for Czech Nuclear Power Plant Contract
Official Announcement of Settlement Reached in the United States on the 16th
The intellectual property dispute between Korea Hydro & Nuclear Power (KHNP) and the U.S. company Westinghouse, which has been ongoing for over two years since 2022, has come to an end through mutual agreement.
According to the nuclear industry on the 16th, KHNP, Korea Electric Power Corporation (KEPCO), and Westinghouse agreed to halt the intellectual property dispute proceedings and cooperate in the global nuclear power market. Until now, the intellectual property dispute between the two companies was considered the biggest obstacle ahead of the final bidding for the new Dukovany nuclear power plant in the Czech Republic, scheduled for March.
The three companies, along with Cameco, a Canadian nuclear fuel company holding shares in Westinghouse, are expected to officially announce the settlement of negotiations in the United States on the 16th (local time).
However, by resolving the intellectual property dispute between KHNP and Westinghouse, it is expected to have a positive impact on the export contract for the new Czech nuclear power plant, for which KHNP was selected as the preferred negotiator.
That said, KHNP and Westinghouse are reportedly not going to disclose specific details of the intellectual property negotiation due to confidentiality agreements.
Inside and outside the nuclear industry, there are expectations that the agreement will include KHNP providing Westinghouse with a certain portion of the work related to the Czech nuclear power export and jointly promoting future nuclear power exports to third countries.
Hot Picks Today
"Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Even With a 90 Million Won Salary and Bonuses, It Doesn’t Feel Like Much"... A Latecomer Rookie Who Beat 70 to 1 Odds [Scientists Are Disappearing] ③
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
- "Am I Really in the Top 30%?" and "Worried About My Girlfriend in the Bottom 70%"... Buzz Over High Oil Price Relief Fund
- "It Has Now Crossed Borders": No Vaccine or Treatment as Bundibugyo Ebola Variant Spreads [Reading Science]
Previously, Westinghouse had blocked KHNP’s independent export by claiming that the latest Korean-designed nuclear reactor APR1400, which KHNP plans to supply to the Czech Republic, is based on its proprietary technology. On the other hand, KHNP maintained that there is no problem with independent export since it succeeded in domesticating the APR1400 technology.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
